Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
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The Commercial Bank of Africa Ltd ( CBA ) has obtained a conservatory order at the Court of Appeal in Nairobi ( the Court ) restraining the Cooperative Bank of Kenya Ltd ( Co-op Bank ), Equity Bank Ltd ( Equity ), the Chief Land Registrar and other named Respondents from disposing or dealing in any way with a property in Riruta ( the Property ) pending the hearing and final determination of an intended appeal from the decision of the Environment & Land Court allowing Co-op bank to exercise its statutory power of sale as a first chargee of the Property.
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Prior to the enactment of the Unclaimed Financial Assets Act No.40 of 2011, (“the Act”) unclaimed financial assets were left under the control of the various holders or such entities where such assets were held. With the operation of the Act, all entities are required to report, trace and deposit any unclaimed financial assets with the Unclaimed Financial Assets Authority (the “Authority”).
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A substantial number of companies have recently installed employee share ownership plans (ESOP) . Little is known, however, about how such arrangements work.
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1. Legal Context
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The growth and
popularity of blockchain technology is at an all-time global high and
does not appear to be slowing down anytime soon. Courtesy of the
versatility of its use and application, blockchain technology may have a
newfound utility in the future management and registration of land
transactions in Kenya. This is according to ICT Cabinet Secretary, Joe
Mucheru.
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Introduction
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The Ministry of Lands is mandated to administer
land through efficient administration, equitable access, secure tenure
and sustainable management of land resources.
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Tips to Consider When Setting Up an Employee Share Ownership Plan
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Revenue sharing is the use of profits to enable separate actors develop
efficiencies or innovate in mutually beneficial ways. There are many
ways the revenue sharing concept is structured with the objective being
sharing of revenue profits and losses between various parties. Revenue
sharing is practiced widely in sports, manufacturing industries,
advertising industries, private companies and malls/retail shopping
centers. The International markets are embracing the concept of revenue
sharing or turnover rent.
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On 6 th October 2017, the government published the Civil
Aviation (Remotely Piloted Systems) Regulations, 2017 which provide the
legal framework for the use of Remotely Piloted Aircraft Systems,
popularly known as drones in Kenya. Entrepreneurs and investors
therefore have the opportunity to tap into a market which a PwC report
estimates to be valued at over USD 127 Billion globally in such sectors
as infrastructure, agriculture, transport, security, mining, security,
media and entertainment amongst others. Already, African countries such
as South Africa, Morocco, Cameroon, Rwanda and Malawi are exploring
drone enterprises in these sectors.